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Social Security at 90: Where the Retirement Program Stands
Social Security faces depletion of funds by 2033 amid partisan debates and proposals to raise retirement age or cap benefits, impacting millions of beneficiaries, experts say.
- On August 14, the Social Security program marks its 90th anniversary, with over 73 million Americans receiving benefits since its 1935 signing by President Franklin D. Roosevelt.
- Republican lawmakers have long pursued efforts to weaken Social Security, aiming to make interactions more difficult and undermine FDR’s New Deal framework, reflecting a decades-long GOP project.
- Recently, the Social Security Trustees report warned of insolvency in 2033, with benefits facing an automatic 21 percent cut unless Congress acts, as the OASI fund approaches exhaustion.
- Responding to funding concerns, the Fair Share Act was proposed, with Whitehouse and Boyle saying `This legislation would significantly extend Social Security solvency and would extend Medicare solvency by an estimated 20 years`.
- Although economic solutions exist within the American economy's reach, program foes aim to redefine the relationship established in 1935, but vigilance could secure its 100th anniversary in 2035.
57 Articles
57 Articles
Social Security Has Existed for 90 Years. Why It May Be More Threatened Than Ever
WASHINGTON (AP) — When President Franklin D. Roosevelt signed the Social Security Act into law 90 years ago this week, he vowed it would provide economic stability to older people while giving the U.S. “an economic structure of vastly greater soundness.” Today, the program provides benefits to almost 69 million Americans monthly. It’s a major […]
Herald Bulletin
Social Security has existed for 90 years. Why it may be more threatened than ever
President Franklin D. Roosevelt signed the Social Security Act into law 90 years ago this week, aiming to provide economic stability for older Americans. Today, the program supports nearly 69 million people monthly but faces significant challenges. Social Security is…
Social Security is turning 90 but it’s more threatened than ever. Here’s why
When President Franklin D. Roosevelt (FDR) signed the Social Security Act into law 90 years ago this week, he vowed it would provide economic stability to older people while giving the U.S. “an economic structure of vastly greater soundness.”Today, the program provides benefits to almost 69 million Americans monthly. It’s a major source of income for people over 65 and is popular across the country and political lines.It also looks more threaten…
Social Security is 90 years old. We are making it smarter, better, faster under Trump
President Donald Trump has pledged to protect and preserve Social Security, and I am honored to lead the agency as Commissioner at such a pivotal moment. My vision is straightforward: a Social Security Administration that is easier to access, faster to respond, and better prepared to meet the challenges of tomorrow. That vision is rooted in our commitment to public service and grounded in the belief that government can and should work for everyo…
Colorado Springs Gazette
As Social Security turns 90, Congress faces deadline to prevent benefit cuts
President Franklin D. Roosevelt’s Social Security Act of 1935 turned 90 on Thursday, but the landmark program will require an act of Congress if it’s to last until its 100th birthday and beyond without significant benefit cuts to nearly 75…
Social Security at 90: Where the retirement program stands
(NewsNation) — Social Security is a vital source of income for millions of Americans, but after 90 years, the program faces significant financial challenges that could reshape it for future generations. If Congress fails to act, retirees could see their monthly checks cut by 23% in less than a decade, slashing thousands of dollars from the average person's annual benefits. Lawmakers are unlikely to let that happen, but so far, they've opted to k…
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